INSUBCONTINENT EXCLUSIVE:
Bank FDs guarantee a fixed interest rate irrespective of market uncertainties, say financial expertsMany banks have recently revised
interest rates paid by them on retail fixed deposits
While HDFC Bank is the latest major lender to make changes to its FD interest rates in select maturities, Punjab National Bank (PNB) and
Canara Bank announced new rates earlier this month
The latest adjustments in fixed deposit rates by banks - including the largest lender State Bank of India (SBI) - come days after
announcement of a hike in repo rate by the Reserve Bank of India (RBI)
fixed deposits below Rs 1 crore for a maturity period up to five years:State Bank of India (SBI)SBI pays the following interest rates on
retail domestic term deposits of up to Rs 1 crore with effect from July 30, according to the bank's website - sbi.co.in:FD periodInterest
days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less than 2 year6.77.22 years to less than 3
years6.757.253 years to less than 5 years6.87.3(Source: sbi.co.in)( SBI pays interest only at maturity in this fixed deposit variant)Punjab
National Bank (PNB)PNB provides the following interest rates on domestic term deposits up to Rs 1 crore with effect from August 1, according
to the bank's website - pnbindia.in:FD periodInterest rate (return on investment) in percentageFor general publicFor senior citizens7 to
14 days5.76.215 to 29days5.76.230 to 45 days5.76.246 to 90 days6.356.8591 to 179 days6.356.85180 days to 270 Days6.356.85271 days to less
Bank pays the following interest rates on domestic, NRO and NRE deposits of up to Rs 1 crore with effect from June 7, 2018, according to the
29 days4.254.7530 days to 45 days5.5646 days to 60 days5.756.2561 days to 90 days66.591 days to 120 days66.5121 days to 184 days66.5185 days
to 289 days6.256.75290 days to less than 1 year6.571 year to 389 days6.67.1390 days to 2 years6.757.252 years 1 day upto 5 years77.55 years
1 day upto 10 years77.55 Years Tax saver FD(Max upto Rs
1 crore with effect from August 6, according to the bank's website - hdfcbank.com:FD periodInterest rate (in percentage)For general
publicFor senior citizens7 - 14 days3.504.0015 - 29 days4.254.7530 - 45 days5.756.2546 - 60 days6.256.7561 - 90 days6.256.7591 days - 6
months6.256.756 months 1 day- 6 months 3 days6.757.256 months 4 days6.757.256 months 5 days- 9 months6.757.259 months 1 day- 9 months 3
days7.007.509 months 4 days7.007.509 months 5 days - 9 months 15 days7.007.509 months 16 days7.007.509 months 17 days < 1 Year7.007.501
Year7.257.751 year 1 day - 1 year 3 days7.257.751 year 4 days7.257.751 year 5 days - 1 Year 15 Days7.257.751 Year 16 days7.257.751 year 17
days - 2 Years7.257.752 years 1 day - 2 Years 15 days7.107.602 Years 16 days7.107.602 years 17 days - 3 Years7.107.603 years 1 day - 5
from Auguts 4, according to the bank's website - canarabank.com:FD periodInterest rate for general public (in percentage)Interest rate for
days to 90 days6.256.7591 days to 120 days6.256.75121 days to 179 days6.256.75180 days to 269 days6.356.85270 days to less than 1
year6.46.91 year only6.77.2Above 1 year to less than 2 years77.52 years above to less than 3 years6.77.23 years above to less than 5
following interest rates on domestic deposits up to Rs 1 crore with effect from July 10, according to the bank's website - axisbank.com:FD
days3.53.530 days to 45 days5.55.546 days to 60 days6661 days < 3 months663 months < 4 months664 months < 5 months665 months < 6 months666
months < 7 months6.256.57 months < 8 months6.256.58 months < 9 months6.256.59 months < 10 months6.56.7510 months < 11 months6.56.7511 months
< 1 year6.56.751 year < 13 months7.17.7513 months < 14 months7.17.7514 months < 15 months77.6515 months < 16 months77.6516 months < 17
months77.6517 months < 18 months77.6518 Months < 2 years77.652 years < 30 months77.6530 months < 3 years77.53 years < 5 years77.5(Source:
